Exro Announces Public Offering of Common Shares Co-Led by Raymond James and Gravitas Securities

Nachrichtenquelle: globenewswire
24.11.2020, 22:22  |  172   |   |   

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ‎

CALGARY, Alberta, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Exro Technologies Inc. (TSXV: EXRO) ("Exro" or the "Company") announced today that it has filed a preliminary short form prospectus with the securities regulatory authorities in each of the provinces of Canada, other than the Province of Quebec, in connection with a marketed public offering (the “Offering”) of ‎ common shares (the “Shares”) of the Company. Final pricing and the determination of the maximum number of Common Shares to be sold ‎pursuant to the Offering will be determined in the context of the market prior to the filing of the final short form ‎prospectus in respect of the Offering‎. The Offering is being conducted on a “best efforts” agency basis by a syndicate of agents led by Raymond James Ltd. and Gravitas Securities Inc., as co-lead agents and bookrunners, on behalf of a syndicate of agents ‎‎(collectively, the “Agents”). ‎The Company has agreed to grant the Agents an option (the "Over-Allotment Option"), exercisable in whole or in part at the sole discretion of the Agents, at any time for a period of 30 days from and including the closing of the Offering, to purchase from the Company up ‎to an additional 15% of the Shares sold under the Offering, on the same terms and conditions of the Offering to cover ‎over-allotments, if any, and for market stabilization purposes. 

The closing of the Offering is anticipated to occur on December 8, 2020 or such other date as the Company and the Agents may agree. Closing of the Offering is subject to customary closing conditions, including, but not limited to, the execution of an ‎agency agreement and the receipt of all necessary regulatory approvals, including the approval of the securities ‎regulatory authorities and the TSX Venture Exchange‎ (the “TSXV”).

The net proceeds from the Offering will be used for further research and development of the Company’s intelligent battery management system, micro, light and commercial electric vehicle programs, marketing, capital investments and general working capital requirements.

The Company has applied to list the Shares on the TSXV. A copy of the preliminary short form prospectus is available under the Company’s profile at www.sedar.com or by request to Raymond James Ltd. at ECM-syndication@raymondjames.ca or Gravitas Securities Inc. at syndication@gravitassecurities.com.

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Exro Announces Public Offering of Common Shares Co-Led by Raymond James and Gravitas Securities NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ‎ CALGARY, Alberta, Nov. 24, 2020 (GLOBE NEWSWIRE) - Exro Technologies Inc. (TSXV: EXRO) ("Exro" or the "Company") announced today that it has …

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